KTL Global receives writ of summons from CEO of Vibrant Group

Published Tue, May 18, 2021 · 01:37 PM

MAINBOARD-LISTED KTL Global last Friday received a writ of summons dated April 14 by the solicitors of the chief executive officer (CEO) of Vibrant Group Khua Kian Kheong.

This comes after the company received a letter of demand dated March 19, 2021 from Khua claiming a sum of S$933,900, being the sum which he alleged he paid in connection with the acquisition of 5.5 million shares in the company on April 20, 2015.

The writ of summons had been served in connection with the claim. Pursuant to the writ, the company will need to either satisfy the claim, or enter an appearance within eight days after the service of the writ, KTL Global said.

Separately, Khua is facing a charge in court after allegedly pushing the former chairman of KTL Global, Tan Tock Han, down some stairs. Mr Tan was the executive chairman of KTL Global until he resigned in December 2018.

As a result of the fall, Mr Tan suffered a fracture to his right shoulder. The alleged incident took place on Jan 13, 2021, at the staircase leading from Level 2 to Level 1 at 7 Gul Road.

As at 1pm on Tuesday, shares of KTL Global were trading at 7.6 Singapore cents, down 0.2 cent or 2.6 per cent.